Betr Entertainment Limited reiterated its commitment to acquiring PointsBet Holdings (ASX: PBH), claiming its AU$1.33 per share offer significantly outperforms MIXI’s AU$1.20 proposal. The offer is supported by a committed AU$120 million acquisition facility from National Australia Bank and a Big Four advisor's confirmation of over AU$40 million in cost synergies, offering strong value upside for shareholders.
Betr expressed concerns over PointsBet's engagement, especially as MIXI’s offer includes accelerated vesting of management performance rights without service requirements—terms Betr does not offer. As PointsBet’s largest shareholder with a 19.9% stake, Betr confirmed it would vote against the MIXI proposal at the 25 June meeting. CEO Andrew Menz rejected criticisms of overstated synergies, emphasizing the robustness of Betr’s bottom-up analysis and reinforcing confidence in delivering AU$1.33 in value per share under the proposed structure.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
